Meyer Handelman Co. Increases Holdings in AutoZone, Inc. (NYSE:AZO)

Meyer Handelman Co. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,105 shares of the company's stock after buying an additional 161 shares during the quarter. Meyer Handelman Co.'s holdings in AutoZone were worth $6,740,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AZO. Capital Performance Advisors LLP acquired a new stake in AutoZone during the 3rd quarter worth approximately $36,000. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone in the third quarter valued at about $47,000. Darwin Wealth Management LLC acquired a new position in shares of AutoZone in the third quarter valued at about $47,000. McIlrath & Eck LLC raised its stake in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in AutoZone in the 3rd quarter valued at about $66,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

AutoZone stock traded down $20.14 during mid-day trading on Wednesday, reaching $3,207.66. The stock had a trading volume of 61,705 shares, compared to its average volume of 107,109. The firm has a market capitalization of $53.83 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,575.00 and a fifty-two week high of $3,416.71. The stock's 50-day simple moving average is $3,219.74 and its 200-day simple moving average is $3,129.05.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $32.55 EPS. On average, research analysts forecast that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AZO shares. StockNews.com downgraded shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Saturday, September 21st. Barclays increased their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. DA Davidson reaffirmed a "neutral" rating and issued a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. UBS Group raised their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Finally, Roth Mkm reiterated a "buy" rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, AutoZone has an average rating of "Moderate Buy" and an average target price of $3,429.84.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.